It is known in the power winch art to provide power winch mechanisms for general utility use, and for boat trailer use, and an example of such a winch is shown in U.S. Pat. Nos. 3,474,922 and 3,645,503. A disadvantage of the prior art power winches shown in the aforementioned patents is that they are costly to manufacture, they are large in size, and they are not capable of being installed in a small compact area on a boat trailer, aircraft, four-wheel drive vehicle or the like. A further disadvantage of such power winch mechanisms is that the drive motor is extended axially outward from the cable drum so as to make a large and cumbersome winch mechanism. Attempts have been made heretofore to overcome the last mentioned disadvantage by providing electric drive winches which include an electric drive motor within a cable drum. Examples of the last mentioned electric winch mechanisms are shown in U.S. Pat. Nos. 1,555,094; 1,585,065; 1,738,811; 1,898,753; 2,039,870 and 2,420,072. A disadvantage of the last mentioned prior art winch mechanisms is that they are substantially large in overall construction, and they do not include an efficient gear reduction means between the electric drive motor and the cable drum. A further disadvantage is the fact that they do not include an efficient and fast operating, reversible switch for operating the electric drive motor for the winch.